Exchange cites strategic reassessment as local fiat on-ramps wind down amid regulatory and market uncertainty
Coinbase will pause its peso-based services in Argentina just one year after launching in the country, marking a notable shift in its Latin American strategy. The move affects local fiat access but leaves core crypto trading functions intact.
Beginning January 31, 2026, Argentine users will no longer be able to buy or sell USDC using pesos or withdraw funds to local bank accounts. Customers have a 30-day window to complete peso-based transactions before the cutoff. Importantly, crypto-to-crypto trading will remain operational, and customer funds are not impacted.
Coinbase described the decision as a “deliberate pause”, aimed at reassessing and strengthening its product offering before a potential return with a more sustainable model.
The exchange entered Argentina in late January 2025 after securing regulatory approval, positioning itself as a compliance-focused platform in a country where millions of users engage with crypto daily. Despite the pause, Coinbase stated that Latin America remains a core region for its long-term growth plans.
The retreat follows a turbulent period for Argentina’s crypto sector, including a high-profile memecoin scandal linked to President Javier Milei, which triggered investigations and market volatility. While Coinbase did not cite politics as a factor, the broader environment remains fluid, with the central bank reportedly considering easing restrictions on banks’ crypto activities.
The move highlights the challenges global exchanges face when navigating emerging markets with rapidly evolving regulatory and political dynamics.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.